My updated information on collection I have for the upcoming independent research project - CIRCULATED SILVER & GOLD COINS IN THE NORTHERN MALAY STATES CIRCA 1600 UNTIL 1957.

CIRCULATED SILVER & GOLD COINS IN THE NORTHERN MALAY STATES (1600 UNTIL 1957)

Welcome to Aleph Coin Blog (Circulated Silver & Gold Coins in The Northern Malay States - Kedah, Perlis & Penang - Circa 1600 until 1957). This blog will preview my current collection or new information of coins that will later be added into my on-going project (that I am doing independently, due to my interest in History and Numismatic). I might be adding information of other coin and banknote that I came across. I am looking forward and much appreciated if someone can come to give information, sharing knowledge, sample of coins into making this project a reality. I also receive support from Dr Ibrahim Baker (a medical doctor, who has so much interest in Malay coins) and Dr Mahani Musa (expert in Penang's history, USM lecturer). Should you have information to relay, don't hesitate to contact me at msah83@gmail.com - Together, we work to preserving our history...

Saturday, 19 July 2008

Malaysia RM1 - Unissued

This is the normal RM1 which can be easily found circulated in the market. Signed by Gabenor Bank Negara, Tan Sri Dato' Seri Dr Zeti Akhtar Aziz.

This one is claimed to be unissued, but somehow the Central Bank's mistake to release it into the circulation. I can't be quite sure about this and still looking for valid confirmation. This piece was signed by Tan Sri Ali Abul Hassan.

Ok, this is one piece somebody's trying to sell on the eBay. Look at the price, and mind you the quality of the note is not more than Very Good (VG-grade).

Bank Negara Malaysia is reintroducing the new RM1 note, the sixth denomination issued in the new design Malaysian currency notes series (3rd series). The new RM1 bears the signature of the present Governor, Tan Sri Dato' Sri Dr. Zeti Akhtar Aziz, who assumed office on 1 May 2000. The new RM1 note printed earlier bears the signature of the Immediate Past Governor Tan Sri Dato' Seri Ali Abul Hassan bin Sulaiman. The new RM 1 note will incorporate the latest security features to deter counterfeiting.

The theme of the new series, "Wawasan 2020" reflects Malaysia's economic development and accomplishment towards achieving the status of a fully developed country. The main focus reflected in the background motif is the tourism sector. This is depicted with an illustration of a Malaysian kite, the beach, Mount Kinabalu and the pinnacles of Gunung Api located in Mulu National Park. This motif also reflects some off the popular tourist destinations in the country. As with the other denominations of the same series, the new RM1 note will also bear RM as the currency symbol for the Malaysian Ringgit. The one signed by Tan Sri Ali Abul Hassan only has the prefix started by CR. The market price would be around RM750 for uncirculated, while circulated (in the conditions of good to very good) can take the price around RM300 to RM450.
So, the next time you receive RM1, do check the signature! Who knows you might have chance to make some profit of 350% from the face value.
The one I bought cost me RM350.00
Just for knowledge sharing.

8 comments:

Salam sejahtera, I have one piece of RM1 bearing serial number CR7217449 which I exchanged with my new RM50 note from a new collector friend, Mr. Fung. Based on his information, hopefully correct, the RM1 notes with Ali Abul Hassan signature were printed by Bank Negara after the departure Dato' Seri Anwar Ibrahin who was the Finance Minister in 98/99. Ali Abul Hassan was appointed as the Bank Negara Governor prior to Tan Sri Zeti Aziz. During TS Ali period of governance, the RM1 were printed and distributed to local banks for circulation to the public. However, for some unknown reason, the local banks were instructed to immediately return the banknotes. Coincidently, one local bank in Bukit Mertajam released the banknotes to the public as the directive from the Bank Negara did not reach them. Not only the circulation is limited but also it comes with a story behind it. This is the reason why the notes are highly demanded at high price.

To my understanding, any previous notes are valid unless the authority cancelled them.

In the case of your questions, those notes were released during governership of Ali Abul Hassan, thus they are valid for usage.

While the case of RM1, they are released post-resign of his position whilst the needs for new notes be issued bearing new signature were required. The RM1 bearing Ali's sign were not cancelled but still accepted for circulation - which ever notes that still available in the market. But, no other notes available. Because of the its scarcity, the price went up and still is going up.

Bank did not say, "O people, we are cancelling the note, and thus you just need to tear it into two." No, they dont do that... For example, the old notes are still valid for usage and accepted at bank's counter. But once it reaches the counter, they will not be given to be public ever again, but transported to BNM.